Fortem Financial

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Adding Perspective to the Market's Movements in February

There has been a lot of discussion about the stock market’s losses over the last week, the rise in interest rates, climbing inflation, and of course the “sharp” increase in volatility.  We wanted to put these items into historical context.  The charts below begin on January 19, 1993.  We chose this day because it’s the day the Chicago Board Option Exchange introduced the VIX (the Volatility Index).  We have broken down the various data points into multiple charts to make it easier to… View More

First 5% pullback in more than 20 months... Is this still a healthy Market?

Stocks declined across the board last week leaving clients to ask is this still a healthy market? Last week was the first 5% pullback we have seen in the equity markets since January of 2016.  A better-than-expected jobs report sent interest rates higher which, in turn, triggered Friday?s sharp selloff; the Dow Jones Industrial Average lost 666 points, a 2.54% decline.  The yield on the benchmark 10-year U.S. Treasury Note rose 0.18% this week, to 2.84%, from 2.40% at the end of December and… View More

Today's Selloff

We know the question many are asking is "Are we at the end of the bull market yet."  We don't think so, and wanted to share some facts to support that statement: The Atlanta Fed is now projecting real GDP growth at a 5.4% annual rate in the first quarter, which would be thefastest growth for any quarter since 2003. We think that's on the optimistic side and expect growth at more like a 4.0% annual rate, but, either way, the economy is showing signs of an overdue acceleration and we are now p… View More

Portfolio Holdings Update

Amazon, Berkshire Hathaway, and JPMorgan Chase, three of America?s largest companies, announced plans today to start a separate, non-profit company with the goal of improving health care for their U.S. employees. Warren Buffett said in a statement that the three companies do "not come to this problem with answers. But we also do not accept it as inevitable.? This announcement, albeit with vague details, caused shares of companies across the health care industry, from health insurers, to distribu… View More

Strong earnings and economic data made the markets head North again last week

The market rally continued last week with the end of the government shutdown on Monday and as strong corporate earnings and economic data recharged bullish sentiment.  All of the major indices closed at record highs; yet, investors continued to favor large cap stocks over smaller company shares.  Treasury yields stabilized after rising by roughly 0.25% year-to-date.  One might describe these conditions as a ?Goldilocks? environment: the rate of economic growth is sufficient to support risi… View More

Government Shut Down averted for the time being, Earnings and Tax Plan are driving the economy and financial markets

Stocks rose during a volatile week last week as concerns over a potential government shutdown and rising interest rates weighed on investor sentiment.  Investors have temporarily retreated from riskier areas of the market: sectors that had been performing well over the past few weeks, such as Energy and Industrials, lagged while Consumer Staples (including food, beverages, and household products), Health Care, and Technology outperformed.  Also, large cap stocks outpaced small caps.  The gov… View More

Markets were closed yesterday for MLK Day but they are off to the races again today

Markets continued their strong start to the New Year with another 500+ point advance in the Dow Jones Industrial Average last week breaking through DOW 26k today.  Improving fundamentals for the global economy, and corporations, are buoying investor confidence; weekly inflows into global equity markets hit a six-month high.  Small cap value stocks outpaced large cap growth stocks; the market?s preference for small caps indicates that investors are starting to look for returns outside of popu… View More

Monthly Commentary

2017 was a great year for the markets and the overall economy.  Looking forward to what we may expect in 2018, the data so far seems to suggest there is still room for the economy (and markets) to continue their expansion.  Some of the things we are watching are: Since congress passed the tax bill, 85 (and counting) US companies have announced new bonuses for their employees or that they are increasing their employees’ benefits The New York Fed’s underlying inflation gauge stands at 2.95… View More

Nearly every Worker will get a Raise in February via Tax Cuts

As the New Year begins, investors are beginning to assess the impact of tax reform on corporate earnings and growth estimates.The IRS will issue guidance in mid-January which will allow for worker paychecks to be adjusted for lower taxes (and higher take-home pay) by February. This is akin to giving nearly every worker in America a raise at the same time. The last time paychecks adjusted for lower taxes in 2003 growth and yields surged. Additionally, nearly 80 companies have publicly announced i… View More

Happy New Year, May 2018 be as good for you and the markets as 2017 was!

New Year's is a time many of us reflect on our lives, set new  goals, and pursue new opportunities.  We hope your 2018 is your best year yet! If you or anyone close to you is looking to evaluate new financial goals or reevaluate older financial goals,  Fortem Financial is here to help.   2017 was an outstanding year for stocks; the S&P 500? Index delivered gains in eleven out of twelve months, a feat previously accomplished only in 1958 and 2006.  Investors seemed un-phased by … View More

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Fortem Financial Group, LLC, has adopted this policy with recognition that protecting the privacy and security of the non-public personal information we obtain about our customers is an important responsibility.

All financial companies choose how they share your non-public personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your non-public personal information. Even when you are no longer our customer, we will only share your non-public personal information as described in this notice. So, please read this notice carefully to understand what we do.

The types of non-public personal information we collect and share depend on the product or service you have with us. This information can include items such as your Social Security number and income, your account balances and transaction history, and your investment experience and account transactions.

We collect your non-public personal information in a variety of ways. For example, we obtain your non-public personal information when you open an account or give us your income information, tell us about your portfolio or deposit money, or enter into an investment advisory contract. We also collect your non-public personal information from other companies. For example, from the custodians who hold your account assets.

All financial companies need to share customer’s non-public personal information to run their everyday business. Below, we describe the reasons we can share your non-public personal information and whether you can limit this sharing.

We share your non-public personal information for our everyday business purposes such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, report to credit bureaus, to protect the confidentiality or security of your records, or as permitted by law. We may also share your non-public personal information for our own firm’s marketing purposes; so that we can offer our products and services to you.

Federal law gives you the right to limit only sharing non-public personal information about your credit worthiness for our affiliates’ everyday business purposes; sharing non-public personal information about you with our affiliates to market to you; and sharing non-public personal information with non-affiliates to market to you.

We don’t share non-public personal information about your creditworthiness with our affiliates for their everyday business purposes. We don’t share your non-public personal information with our affiliates to market to you. We don’t share your non-public personal information with non-affiliates to market to you. We also don’t share your non-public personal information for joint marketing with other financial companies. State laws and individual companies may give you additional rights to limit sharing.

We share non-public personal information with our parent company affiliate, Focus Financial Partners, Inc, for its internal and external auditing purposes. We also share your non-public personal information with a non-affiliate for the purpose of aggregating it and providing summary information based on this data to our parent company, Focus Financial Partners, Inc.

To protect your non-public personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.

Our policy about obtaining and disclosing non-public personal information may change from time to time. We will provide you notice of any material change to this policy before we implement the change.

If you have questions please call us at 760-206-8500 or go to our website at


Fortem Financial Group, LLC ("Fortem Financial" or the "Firm") is a federally registered investment adviser with offices in California and Arizona. Fortem Financial and its representatives are in compliance with the current registration and notice filing requirements imposed upon federally registered investment advisers by those states in which Fortem Financial maintains clients. Fortem Financial may only transact business in those states in which it is notice filed, or qualifies for an exemption or exclusion from notice filing requirements.

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